Business Plans Category - Page 7 of 7

03/28/201207/12/2023

Don’t Hype the Business Plan

A business plan is a living breathing document in that it can help you obtain capital through angel investors and then serve as the blueprint for goals and strategies. However, the business plan filled with hype is dead on arrival during fund raising because business plan readers will quickly recognize over-promising exuberance not based in reality. You may have an amazing idea and believe it’s a wide open market niche with no competition, but can you prove so?

Though angel investors are not financial institutions, they still rely on solid market and financial evidence for decision making. Using an abundance of words like ‘unprecedented’ and ‘one of a kind’ sends a signal that you have not done in-depth market research. Even if you have done the research, these kinds of hype words set a tone of naiveté and inexperience because very few products are unprecedented and lack competition.

As you write the business plan with the intent of submitting to angel investors, the words you need to be thinking should be more along the lines of ‘proven’, ‘accomplishments’ and ‘competition.’ If you say that your product is unprecedented then that word needs to be supported by third-party market research proving to the best of their ability that you have actually developed a radically new product. Even in that case, you also must still prove that an expanded market will want to buy your unprecedented product before angel investors will capitalize your startup. An unsold unprecedented product has no value.

Avoiding the hype in a business plan takes discipline because entrepreneurs are naturally excited about their initial stage of business growth. Hype makes your job of selling a business plan to angel investors much harder than it needs to be. Avoid the hype and the business plan begins on solid ground, and from there your fund raising chances can only go up.

More detailed information and useful advice can be found at www.funded.com Created by Mark Favre, it offers expertise and assistance with developing and funding your concept, including a private forum for queries and discussions. If you need access to investors and funding providers, please do check our website.

03/09/201207/12/2023

Accepting Economic Challenges Via the Business Plan

Addressing today’s economic environment in a business plan may seem challenging, but it’s also the perfect time to prove you’re up to the challenge. In fact, angel investors are aware that successful ventures in a tight economy are poised for expansion when the economy improves. Successfully starting, managing and growing a business when the GDP is expanding at a sluggish 3 percent (like now) or less is indicative of a business with high growth potential as the economy returns to normal. Though capital access may seem tight, making it difficult to obtain venture funding, the fact is that it’s time like these where some of the greatest opportunity exists.

For example, tight markets mean less competition for both customers and funding. The people who succeed in this type of economic climate are the ones who have solid business plans and excellent ideas. The general quality of brands is necessarily raised because only the best can compete. These companies are attractive to investors looking to fund companies with growth potential.

Another way to look at the business climate is that businesses able to develop business plans that accommodate tight capital markets are more likely to attract angel investors. The reason is due to the fact the investors will recognize that the financially conservative business is prepared for economic downturns as well as upswings. Too many business plans begin with unreasonable expectations given market conditions. Clearly showing how your business will succeed in tight economic conditions is, at the same time, showing how the business is prepared to successfully maneuver during periods of uncertainty or even setbacks over the long term. Compelling business ideas coupled with managed risk is an excellent formula for attracting angel investors.

More detailed information and useful advice can be found at https://www.funded.com/ Created by Mark Favre, it offers expertise and assistance with developing and funding your concept, including a private forum for queries and discussions. If you need access to investors and funding providers, please do check our website.

03/08/201203/07/2012

Dot.business plan for a Dot.com

Writing business plans to find angel investors interested in funding internet entrepreneurship is similar but not identical to writing proposals for brick-and-mortar only businesses. A company that is going to be operated solely online still needs a strategic business plan that defines the business in detail, identifies market strategies to build a customer base, analyzes competition, lays out the operations and management plan and presents the financial plan. However, there’s a twist because investors will want to know how you plan on making your website stand out in a very crowded electronic superhighway and how you plan to attract and keep customers, who you will never meet, on the website long enough to spend money. There are millions of websites already up and running, but due to a lack of business planning they are virtually alone in a virtual world.

A strategic business plan for an internet based company must include the traditional business information, but it also requires planning for online design and content, online marketing strategies, website support and upgrades, online product ordering and security. Even planning for customer service has unique features in that contact will be primarily electronic. Angel investors will want to know how you will blend online and offline promotion strategies to insure maximum exposure. Internet marketing strategies address the marketing funnel in which customers are attracted to the website and then moved along a narrowing path to ordering and payment using a variety of well-designed enticements. A well thought out business plan for an internet based business addresses plans for accessing the right kind of business management technology to insure sales are captured using a virtual gateway and online shopping cart.

In other words, angel investors will review the business plan for thoroughness on two levels instead of one – traditional and electronic. Just because the business will be internet based doesn’t mean you can skip the traditional strategic planning. It only means you need to expand and integrate the unique features and requirements of an online business.

More detailed information and useful advice can be found at http://www.funded.com/ Created by Mark Favre, it offers expertise and assistance with developing and funding your concept, including a private forum for queries and discussions. If you need access to investors and funding providers, please do check our website.

03/07/201203/09/2017

Writing Business Plans that (Really) Matter

Business plans are not all alike and neither are angel investors, venture capitalists and loans. Then why do so many business plans seem like carbon copies of each other? Rubber stamping, so to speak, a business plan and only changing the names isn’t going to generate much interest among savvy investors. How many small businesses are ready to become the next corporate success story, but can’t seem to get investor interest? There are plenty, and many will never get a chance to find success because their business plans don’t pique the interest of angel investors or any other investor for that matter. The business plans are just too ordinary and fail to convey the uniqueness of the new idea, concept, product or service.

If you took a test and it said to name the most common mistake made on business plans, would you know the answer? The answer is: The business plan begs for money but doesn’t beg for understanding. A business plan is much more than a plea for money. It’s a driver’s manual that defines goals and objectives while providing the road map to a new destination. If the directions are clear and point right towards what makes your idea market unique, investors can’t get lost on their way to the endpoint. That’s where the financing waits. Focus on what makes your concept unique and prove you have carefully thought through the components of success – people, opportunity, context or relationship to industry and market, risks and rewards. In other words, write a business plan that really matters and not just one that fills in the blanks and makes a pitch for money. Don’t be ordinary…be unique. It’s what entrepreneurship is all about.

12/22/201107/12/2023

Why Do We Need a Business Plans?

Business plans are very essential in putting up a business whether its big or small. Many people think of it as something you only do if you plan to apply for a loan or if you are looking for investors. Of course it’s very important to have one for this purpose. However it’s not the only reason you want to consider of not having one. Business without a plan is like travelling without a map or compass on your hand. Your business will need a foundation to start and it can be obtained from a good business plans.

Yes, you need business plans if you are applying for a business loan or if you are looking for investors. Investors and Bank always requires you to have a plan. They expect it to be the overview of your company. Your business plans will tell you if you will be approved or not. Make it as detailed and concise as possible. Running a business with a business partner also requires you to have a business plans because it will help you define the agreement between both parties. It will show that both parties has a clear understanding on what’s going to happen. It also help to get everyone involved in your start-up on heading in the same direction including your employee, partner and even your family members.

Aside from your investors and partners business plans plays a very important role on you. This will be your guiding point in order to run a good business. This will establish business milestones and should clearly state the long term milestone for the company. It also understands the forecast of your company’s staffing needs. So, that after completing your business plan you will not be surprised when you are suddenly short handed. It should also indicate the branding of your company as well as your potential target market.

Always keep in mind that in order to be successful, business planning is a must. There are so many benefits that can be obtain with the proper use of this. It will define your target market, determine your business requirement, identifies the main issue in your business, map out the whole business plans and more. People don’t realize that planning is not just for start up, loans or investments. This will be your guide towards success. You must know how to plan step by step, think ahead, set priorities and manage your money.

Why Do We Need a Business Plans?

12/16/201107/12/2023

WHAT’S INSIDE YOUR BUSINESS PLANS?

What’s inside your business plans?

If you are starting a business, whether you are looking for an investor or financier or not, it is very important to have a business plan. Many business owners just jump into creating a business without researching and making a concrete plan. Inevitably, they soon find that they are out of money and have no time or clear strategies how to market their business. There are several things you should need to include on your business plan.

Aside from your business name, the first thing that you should put is the mission and vision of your company and your products and services. It defines what your business really is and what you want to achieve in your business. Second, are your marketing plan, target market and competitive analysis. On your business plan it should have a clear view on how you would advertise your products/services and how you will compete to other company. Third would be your Financial plan, a business can operate without budgets but its clearly good business practice to include it. With budgets, you will be more likely to achieve your business objectives, you will make more reasoned decisions and you will have better control on your cash flow. Lastly, it should also include the people behind your company so that investor would know whom they are dealing with.

Now that you have a business plan, make it a part of you by knowing and understanding it clearly. Build upon it continuously and refer to it often, so you remain on track to building a profitable business.